For Adobe, a company with a market cap of around $16.6 billion, this represents a large purchase. The dollar figure may sound small, following Apple’s efforts, but for Adobe is a rather startling decision. In its press release, the company noted that this effort is, in one sense, designed to limit dilution caused by continued stock issuances.

While that is true, Adobe has over $2.7 billion in cash as of the second of March, 2012, giving investors a reason to hunger for the company to employ some of that hoard. Adobe’s market valuation is currently more than 16% based on its cash supply.

Of course, having a comfortable cash cushion is no sin, but to return the plurality of its current cash over the coming fiscal years will likely keep Adobe’s investors at bay, while allowing for the company to keep more than enough cash for its continued business requirements and research.

Adobe’s CFO noted that, from his perspective, this decision “reaffirms our confidence and optimism in the long-term future of Adobe, and our commitment to returning value to our stockholders.” Tech is having a good few months, with earnings rising, and startup activity blossoming. At least for the moment, it’s a good time to be in technology.

The company’s stock was up 1.65% on the day, and is up some 0.21% in after-hours trading, as of the time of writing.